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We address the moral hazard problem of securitization using a principal-agent model where the investor is the principal and the lender is the agent. Our model considers structured asset-backed securitization with a credit enhancement procedure. We assume that the originator can affect the...
Persistent link: https://www.econbiz.de/10013011183
students and young researchers at the D. A. Tsenov Academy of Economics – Svishtov for innovate scientific and applied research … in the fields of economics, administration and management” funded under the Operative Programme “Science and education … Petkov, PhD, and Insp. Greta Tsanova) carried out a series of activities. The monographic almanac Economics and management …
Persistent link: https://www.econbiz.de/10013314245
The article analyses the role of economists in public discourse with regard to the financial crisis. Specifically, it focuses on the prevailing rhetorical strategies and the economic convictions of leading German-speaking economists as they appear in seven leading newspapers and magazines in the...
Persistent link: https://www.econbiz.de/10011777687
Has the global financial crisis of 2007ff had a visible impact on the economics profession? To answer this question we … changes in contemporary economics, although the topic of financial instability received increased attention after the crisis. …
Persistent link: https://www.econbiz.de/10011799120
This paper uses George Soros' theory of boom--bust cycles to argue that mainstream economics, as built on Samuelson … positive feedback pattern was associated with the “misconception” that when economics is framed as a natural science as per … recognition that this was a “misconception” and the emergence of mainstream economics' performative ambition – the idea that …
Persistent link: https://www.econbiz.de/10012946337
economics. In particular, the core of economic theory suggests that money is neutral (affecting only the price level but not … economy level due to the division of labour also makes finance much more important than suggested by traditional economics. It …
Persistent link: https://www.econbiz.de/10010685349
This is a collection of the Mundell-Huang Da Lectures on Economics held at the Renmin University of China, including … lectures by leading authorities in the international economics circle and Nobel Prize winners such as Jean-Jacques Laffont … economists in China to help readers understand the latest developments in economics and finance and integrate them with China …
Persistent link: https://www.econbiz.de/10011122722
This paper examines the relationship between the microeconomics of real-estate and the negative impact of the innate flaws of the 30 year mortgage as it relates to elevated Housing Cost To Income Ratio averages (HCTI). The average borrowers housing expense has risen to approximately 50% of an...
Persistent link: https://www.econbiz.de/10011112704
Financial innovations should be regarded a s a substantial element in the functioning of modern economies and financial sectors. However, their general impact is to be assessed from the present perspective, essentially depending on their particular behaviour and the role they play in the...
Persistent link: https://www.econbiz.de/10011195185
Over the past three years, the governments have acted decisively on both national and international levels to avoid financial and economic crisis. This has led to large structural deficits and growing debt putting at risk the fiscal sustainability. Therefore the fiscal consolidation has become...
Persistent link: https://www.econbiz.de/10010786919